Jolaks Manufacturing, a Sierra Leonean family-run palm oil refiner founded by Indian Sierra Leonean businessman Mahesh Nandwani, has secured a $20 million financing package from Proparco under the Africa Resilience Investment Accelerator (ARIA) initiative to expand production capacity and strengthen local food security.

The Freetown-based company, part of the Nandwani family’s business interests, processes up to 300 tonnes of crude palm oil daily into edible oil, supplying consumers while creating a market for local palm oil producers.

Financing to expand local production

The financing will enable Jolaks to increase its capacity to process palm oil locally, supporting Sierra Leone’s efforts to reduce dependence on imported food products and strengthen domestic agricultural value chains.

Sadio Dicko, Proparco’s Regional Director for Western Africa, described Jolaks as a key player in Sierra Leone’s food supply, saying the financing would help the company process more palm oil locally and secure supplies of the staple commodity.

The investment was facilitated through ARIA, a Proparco-supported initiative designed to increase investment in fragile African economies. Valerie Entsiful, ARIA’s Country Manager for Sierra Leone, said Jolaks’ focus on food security and job creation aligned with the programme’s objectives.

Jolaks strengthens farmer-to-market supply chain

Jolaks’ operations extend beyond its Freetown refinery, creating a market for smallholder farmers producing palm oil across Sierra Leone.

The company says some farmers previously struggled to find reliable buyers for their produce, with unsold palm fruit sometimes going to waste. Jolaks provides a regular outlet, allowing producers to increase production and improve their incomes.

Cecilia Jimmy, a Sierra Leonean farmer who has supplied Jolaks since 2001, said the company offers competitive prices and maintains a strong relationship with producers.

The company’s products are subsequently distributed through commercial outlets across Freetown and the wider country, connecting local producers with consumers.

Food security and job creation drive expansion

The investment comes as Sierra Leone seeks to increase domestic production of staple foods, create employment and reduce reliance on imports.

Agriculture Minister Henry Musa Kpaka said investments in palm oil and other agricultural value chains could improve household incomes while helping address food insecurity. He also highlighted growing private-sector investment in rice, onions, palm oil and flour as important to job creation and import substitution.

Jolaks’ expansion therefore positions the company at the intersection of Sierra Leone’s agricultural and industrial development goals, while giving local farmers a larger commercial market for their output.

Founded by Mahesh Nandwani, who serves as owner and chief executive officer, Jolaks Manufacturing operates as part of the wider Nandwani family business network, including Pee Cee & Sons and Pee Cee Holding Limited, in Freetown. The latest financing is expected to strengthen the company’s production capacity while supporting Sierra Leone’s push to build a more resilient domestic food supply chain.